신용장 발행은행의 대금 지급 거절에 관한 사례 연구: 일본의 대금지급거절 사례를 중심으로

Case Studies in Japan on the Refusal to Honour L/C’s of Issuing Banks

This paper analyzes the refusal to honour letter of credit transactions of Issuing banks in the through Japanese cases. According to the UCP 600, when a nominated bank acting on its nomination, a confirming bank, if any, or the issuing bank determines that a presentation does not comply with L/C conditions, it may refuse to honour the L/C under negotiation. There are some factors of refusing payment such as fraudulent practices by issuing bank and applicant, misunderstanding of discrepancy. First, if fraud actually arises, it is necessary to settled the dispute settlement procedure or settle the litigation as agreed in the contract. Second, if it is difficult to keep the quality, quantity and weight of the goods constant, if price adjustment occurs depending on the condition of the actual shipping goods, such details should be included in the L/C conditions